Strongest operating full-year income expected since IPO

Duisburg, Germany, July 29, 2021, 11:37am – According to preliminary figures, Klöckner & Co SE generated a record operating income (EBITDA) before material special effects of €401 million in the first half of the financial year 2021. Due to the continued positive dynamics of steel prices in Europe and the US at the beginning of the third quarter combined with extremely strict net working capital management and supported by the substantial effects from the Surtsey project, Klöckner & Co SE anticipates EBITDA before material special effects in the third quarter to be significantly stronger than previously expected by the market at €200-230 million.

Furthermore, the company expects to achieve EBITDA before material special effects of €650-700 million in the full year 2021, which will then be the best operating full-year income since the IPO in 2006. This forecast is also above the previous market expectation.

The figures for the second quarter will be announced on August 10, 2021.

For the definitions of EBITDA and EBITDA before material special effects reference is made to our homepage (accessible via https://www.kloeckner.com/en/glossary.html) and/or the annual report 2020, p. 40 (accessible via https://www.kloeckner.com/en/investors/publications.html).